1. Explain what is meant by a good being "excludable." Explain what is meant by a good being "rival in consumption." Is a slice of pizza excludable? Is it rival in consumption?
2. Define and give an example of a public good. Can the private market provide this good on its own? Explain.
3. Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Explain.

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